Geely Monthly Overseas Sales Monitor: July 2026

This monthly chartbook product - "Geely monthly overseas auto sales monitor" - tracks the overseas sales of Geely, a leading Chinese automaker. In July 2026, Geely recorded 106,663 units of overseas sales (+202.4% YoY, +3.7% MoM). For January to July 2026, Geely recorded 580,891 units of overseas sales (+164.8% YoY). By brand, Geely Brand sold 66,187 units, Lynk & Co Brand 5,874 units and Galaxy Brand 24,592 units in July. By country, Russia was the largest market with 14,214 units, followed by Brazil with 7,136 units, Australia with 5,839 units, Mexico with 4,531 units and Thailand with 4,149 units. Geely Auto is the third-largest Chinese local brand passenger vehicle maker as of 2025 and ranked #2 in NEVs in 2025. We rate the shares Buy. Our target price is derived via a DCF analysis, and implies a 12.3x 2026E P/E, applying an 8.5% WACC. Key downside risks include: 1) weaker-than-expected margins due to the company's greater proportion of revenue from lower margin NEV operations;